Excelsior Mining Corp. (
TSX: V.MIN,
Stock Forum) has engaged M3 Engineering & Technology Corp. (M3) of Tucson, Arizona to support the company in the completion of a prefeasibility study on the Gunnison copper project. M3 is a global full-service engineering design firm that provides expertise in engineering and construction management services.
The Gunnison copper project is located in a remote section of Cochise County in southeastern Arizona. The focus of the project is the North Star deposit, which currently has a total measured and indicated mineral resource of 3.21 billion pounds of oxide copper, containing 498 million tons at 0.32% and an inferred mineral resource of 0.83 billion pounds of oxide copper, containing 156 million tons at 0.27%.
According to the Excelsior press release, a total of
13 submerged leach tests have been completed and in general, higher acid concentrations generated faster recovery rates while longer leach times generated higher total recoveries.
"Once again we have procured technical results that underscore the viability of in-situ recovery at Gunnison," stated Stephen Twyerould. "These metallurgical results, when combined with previous results, will be used for the preparation of a prefeasibility study."
Excelsior is a mineral exploration and development company that is advancing the Gunnison copper project.
On Tuesday, Excelsior rose 4.4% and was trading at $0.12 a share. The company had a market cap of 7.1 million, based on 59.1 million shares outstanding.